21st December 2016
Source: The National
THE K3 billion Paga Hill development project will be one of the country’s biggest public-private partnership (PPP) projects, according to Tourism, Arts and Culture Minister Tobia Kulang.
He said Government’s participation in the project was not monetary but only to assist in areas where it could to develop the project. “This particular development will bring to us the elements that will push our agenda for tourism development,” he said.
“The Government cannot go and borrow and build everything.
“It has to create a situation where it attracts private investments through its intensive scheme that will attract private sector funding.
“It will be the first tourism hub to be developed with all the iconic infrastructure which will be integrated.
“It will challenge tourism to start to have a look at its current legislation to ensure that we are able to cater for some of the incentives.”
The project will have a hotel, serviced apartments, tourism and business facilities, residences, marina and a casino.
Artist’s impression of the planned ‘village experience’ and cultural centre at Paga Hill Estate’s waterfront
Paga Hill Development Company chief executive and managing director Gudmundur Fridriksson said the company had been working on the project for nearly 20 years.
“Government is not investing in the project. It is only giving us the strategic support, and making sure that the interest of the people of PNG is taken on board.
“We have our obligation to look after some of the war relics and make sure employment opportunities are offered. We want the Government to rather than give us the money, give us the incentives so that we can bring in material at a competitive rate.”